Garware Technical Fibres net profit before tax increases by 54.1% in Q3 FY21

-

by Priya J

Mumbai, February 2021: Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets, today announced its financial results for the Quarter and Nine months ended December 31, 2020.

Consolidated: Q3 FY21 Highlights:

  • Net Sales increased by 18.1% to Rs. 278.43 Cr in Q3 FY21 as compared to Rs. 235.78 Cr in Q3 FY2o
  • Profit before tax increased by 54.1% to Rs. 59.o Cr in Q3 FY21 as compared to Rs. 38.3 Cr in the same quarter last year
  • Net profit after tax has increased by 49% to Rs. 43.2 Cr in the quarter as against Rs. 28.9 Cr in the corresponding period of FY2o.
  • EPS for Q3 FY21 is at Rs. 20.19; this is a growth of 52.6 % over Q3 FY2o

Consolidated: 9M FY21 Highlights:

  • Net Sales decreased by 0.2% to Rs. 699.1 Cr in 9M FY21 as compared to Rs. 700.5 Cr in 9M FY2o
  • Profit before tax increased by 12.2% to Rs. 139.3 Cr in 9M FY21 as compared to Rs. 124.1 Cr in the same period last year
  • Net profit (PAT) has increased by 0.3% to Rs. 105.2 Cr in the period as against Rs. 104.8 Cr in the corresponding period of FY2o
  • EPS for the period is at Rs. 49.22 in 9M FY21; this is an increase of 2.7% over 9M FY20

Management Comments:In a statement, Mr. Vayu Garware, CMD, Garware Technical Fibres Ltd. said, "We delivered a powerful consolidated performance with 18.1% sales growth and 54.1 % PBT growth in Q3. Demand for our products continued both in Domestic and International market and our team has executed well. Profitability across businesses have been well delivered by a good Sales mix and excellent work in cost optimization. It is also led by a strong performance in new products. Funds generated from operations continued to be on plan with good working capital management."

About Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.): (BSE:  509557 / NSE: GARFIBRES): Garware Technical Fibres Ltd. (formerly Garware-Wall Ropes Ltd.), an ISO 14001:2015 and ISO 9001:2015 certified company is a leading player in Technical Textiles specializing in providing customized solutions to its customers worldwide. Globally, the company is known for its applied innovation in the field of sports, fisheries, aquaculture, shipping, agriculture, coated fabrics and geo¬synthetics. The company's products are manufactured in state-of-art facilities at Wai and Pune and marketed in more than 75 countries.

Comments

Post a Comment

Popular posts from this blog

KERALA TOURISM WOOS TOURISTS

-
Image
Kerala Tourism attracts more tourists with new initiatives! Explore God’s Own Canvas! by Priya Jadhav Mumbai, 07th February, 2017: Considering the uptick in inbound tourism from Mumbai, the Department of Tourism, Government of Kerala is organizing B2B Roadshows in Mumbai on 07th  February, 2017. The roadshow desires to attract city’s leading travel agents and tour operators, and showcase to them the best of ‘God’s own country’. The delegation from Kerala is led Mr Shine KS - Tourist Information Officer, Department of Tourism, Govt of Kerala and will comprise major players from the state’s Tourism & Trade industry. Besides forging fresh collaborations, the roadshow will introduce new initiatives, experiences and attractions that Kerala has in store for visitors. Kerala Tourism: The story so far… The Marketing Initiatives for the year 2016-17 were formulated and executed based on the keen understanding of the unique appeal that 'God's Own Countr
Read more

Excellent Classes organises 34th edition of HUES, felicitates its meritorious students

-
Image
by Priya Jadhav  Mumbai, 2 nd  January 2024:   Excellent Classes,   a pioneer coaching institute in Mumbai   organised its 34 th   Annual Program called HUES - Honouring Unique & Excellent Students, where the institute rewarded the hard work and achievement of its students for the year 2023. Dr. Zaibunnisa Malik, an educationist and social activist working for the upliftment of underprivileged children graced the occasion as the Guest of Honour.     Briefing about HUES, Dr. Jamil Khan, Director of Excellent Classes  informed, “At HUES, we celebrate the performance of our students who performed exceptionally well in their Boards and Entrance exams like – ICSE, SSC, NEET, etc. The students have been working very hard for these exams and this is a way to celebrate and acknowledge their hard work.”  Students who were felicitated at the program are - Mahi Naik secured 95.6% in SSC and stood first in the institute. Asma Sayed secured 89.67% in HSC Science and also secured 99.27 percentil
Read more

Haier Launches Inverter Expert Air Conditioner Series - A New Dawn in Air Conditioning

-
Image
· Introducing a range of inverter ACs with energy saving and instant   cooling capabilities · Designed for the internet generation with WiFi and 1 touch LED      system by Suman Gupta New Delhi, March 29, 2017: Haier, the global leader in Home Appliances & Consumer Electronics and  World’s Number 1 brand in Major Appliances for the 8th Consecutive Year*, recently announced the launch of its Dawn air conditioners along with a series of other air conditioners. The air conditioners have been introduced and designed particularly taking inspiration from the needs and requirements of the consumers and keeping in mind the weather conditions of the country. The launch is aimed at maintaining Haier’s position as a leader in the industry, specifically in the segment of air conditioners and provides consumers with a wide variety of products in the category. The new lineup of air conditioners comes with inverter technology resulting in electricity saving capabilities
Read more